Fulton Financial Co. (NASDAQ:FULT – Get Rating) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 4,240,000 shares, a drop of 17.2% from the October 31st total of 5,120,000 shares. Based on an average daily volume of 919,300 shares, the short-interest ratio is currently 4.6 days.
Fulton Financial Trading Up 0.4 %
Shares of NASDAQ FULT traded up $0.08 during trading hours on Friday, hitting $18.60. The company’s stock had a trading volume of 570,974 shares, compared to its average volume of 723,118. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 11.85 and a beta of 0.79. Fulton Financial has a 12 month low of $13.72 and a 12 month high of $19.17. The business has a 50-day simple moving average of $17.62 and a 200-day simple moving average of $16.41.
Fulton Financial (NASDAQ:FULT – Get Rating) last posted its earnings results on Tuesday, October 18th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $278.71 million for the quarter, compared to analysts’ expectations of $262.15 million. Fulton Financial had a return on equity of 11.82% and a net margin of 26.40%. On average, analysts anticipate that Fulton Financial will post 1.79 earnings per share for the current fiscal year.
Fulton Financial Cuts Dividend
The company also recently disclosed a None dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, November 30th. Fulton Financial’s payout ratio is 38.22%.
Insider Buying and Selling at Fulton Financial
In other Fulton Financial news, EVP Angela M. Snyder sold 4,818 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $18.23, for a total transaction of $87,832.14. Following the sale, the executive vice president now owns 33,246 shares in the company, valued at $606,074.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Angela M. Sargent sold 11,581 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $18.57, for a total transaction of $215,059.17. Following the transaction, the executive vice president now directly owns 70,079 shares of the company’s stock, valued at $1,301,367.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angela M. Snyder sold 4,818 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $18.23, for a total value of $87,832.14. Following the transaction, the executive vice president now directly owns 33,246 shares in the company, valued at $606,074.58. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.
Institutional Trading of Fulton Financial
Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Fulton Financial by 0.3% during the 3rd quarter. BlackRock Inc. now owns 22,605,403 shares of the bank’s stock valued at $357,166,000 after acquiring an additional 60,370 shares in the last quarter. Vanguard Group Inc. boosted its position in Fulton Financial by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,117,537 shares of the bank’s stock valued at $270,457,000 after acquiring an additional 1,149,047 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fulton Financial by 5.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,013,267 shares of the bank’s stock valued at $189,811,000 after acquiring an additional 634,909 shares in the last quarter. State Street Corp boosted its position in Fulton Financial by 8.9% during the 1st quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock valued at $149,945,000 after acquiring an additional 731,995 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Fulton Financial by 0.4% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,922,756 shares of the bank’s stock valued at $48,576,000 after acquiring an additional 12,065 shares in the last quarter. 64.90% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on FULT. StockNews.com initiated coverage on Fulton Financial in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler raised their target price on Fulton Financial to $20.00 in a research note on Wednesday, October 5th.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.